Knowing how to save money is essential nowadays. With the rising cost of living, many people are concerned about their own and their families’ future. This is a constant affliction for anyone on a fixed salary who no longer earns enough to maintain a comfortable lifestyle.
But did you know that even in this situation you can save money? See now how to save money even earning little.
What this article covers:
Saving Money: How important is it?
When you earn less than you would like, it is difficult to manage the amount received, because in addition to priorities, unforeseen events and emergencies of the most varied types usually arise. At that moment, a feeling of despair arises for not knowing how to act to solve the problem.
With that, you see the importance of having money saved for any emergency situation and reducing the economic impact that this occasion could cause. To prevent this from happening, it is very important to be aware of some practices that we will see below.
See some tips to save money even earning little?
Financial education is essential to teach us how to have healthy control of our money, so that we can afford priority expenses and also set aside another part for emergencies and goals. Now, let’s go to the tips!
Don’t spend all the money you get
If you earn little, do your best not to commit all your income. Beware of credit cards, especially if you are an impulsive person when making a purchase decision.
Before buying something, ask: do I need it now? Do I have money available in my budget? Am I really going to use this item? These are questions to make you reflect before deciding to buy something or not.
Have a spreadsheet of fixed and variable expenses
Grab a pen and paper and write down all the expenses you usually have during the month. Separate into fixed expenses, such as: rent, electricity bill, supermarket, etc. And variable expenses: delivery snacks, shopping at the mall, gas, among others.
Putting together this worksheet is essential to identify what can be excluded and help save at the end of the month.
Avoid superfluous spending
In our homes we have a lot of superfluous spending and we don’t even notice. Check out some examples:
- Cable TV package – Sometimes we pay dearly for a complete package and do not watch even half of the channels. It’s worth reevaluating and choosing a cheaper package;
- Delivery – Decrease expenses with snack delivery, prefer to buy the ingredients and make them at home;
- Electricity – turn off the lights when you leave the room you were in, reduce the time in the hot bath and do not sleep with the television on.
- Supermarket – see food prices more affordable and take food that will actually be consumed.
With the ease of solving everything on the internet, we adapt to seeing, wanting an item a lot and buying it impulsively, which is not always a good deal, since we did not have time to research prices and analyze the benefits of that item in our lives.
Focus on your goals
Unforeseen events happen, but dreams must also be accounted for. A portion of this financial planning needs to include that trip you want to take alone or with your family, changing your car and even renovating your home. With anticipation, everything becomes possible!
Have you heard any of these money saving tips? Tell us in the comments which one you liked best.